Silence Therapeutics losses deepen as R&D spending mounts

Net losses for the year through December amounted to £18.4m, compared to losses of £1.6m in 2017, when the company also booked a £9.1m gain on asset sale.

Silence's lead candidate SLN124 has been granted orphan drug designation by European regulators.

The first patients were expected to enter a Phase Ib study in in the second half of 2019.

'2018 was a defining year for Silence Therapeutics, with transformational change throughout the business,' chief executive David Horn Solomon said.

'With the first RNAi therapeutics now approved by the FDA, effectively creating a new class of medicines, we are working hard to consolidate our position as a leading developer in this exciting new field.'

'During the year we have made great progress in advancing our lead product SLN124 towards the clinic and we are due to commence in-human clinical trials later in 2019 to demonstrate safety and tolerability.'

'We look forward to unlocking more of Silence Therapeutics' potential in 2019 and beyond for the benefit our shareholders and, importantly, for the patients of these devastating conditions.'

Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.